Rich County Property Taxes
The median property tax rate in Rich County is 0.42%, which is significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $407,179, the typical annual property tax bill in Rich County is $1,679, considerably below the national median of $2,690. Property taxes in Rich County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Rich County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Garden City or another part of Rich County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rich County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Rich County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Rich County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Rich County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Rich County, Utah
Property taxes in Rich County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Rich County is 0.42%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Rich County set these rates annually, and they can vary significantly between different areas within the county. Each year, Rich County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Rich County's effective property tax rate with other counties in Utah and the national median. For comparison, the city of Garden City has a property tax rate of 0.42%, the same as Rich County. Analyzing how Rich County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Rich County Tax Rate
0.42%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rich County, Utah
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Garden City | 0.40% | 0.42% | 0.42% | 0.42% | 0.42% |
| Laketown | 0.14% | 0.40% | 0.40% | 0.40% | 0.40% |
| Randolph | 0.14% | 0.23% | 0.26% | 0.29% | 0.43% |
| Woodruff | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Rich County, Utah
In Rich County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Rich County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Rich County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Laketown has the highest median tax bill at $2,944, while Randolph boasts the lowest at $522. Being aware of these valuation processes in Rich County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Rich County Assessed Value
$407,179
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rich County, Utah
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Garden City | $80,000 | $215,242 | $397,365 | $615,083 | $883,005 |
| Laketown | $205,395 | $396,888 | $1,047,146 | $1,742,228 | $2,377,843 |
| Randolph | $44,693 | $114,669 | $201,506 | $364,218 | $482,014 |
| Woodruff | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Rich County, Utah
In Rich County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by county assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $407,179, homeowners can expect to pay varying amounts depending on their property's assessed value and the specific tax rate applied. Factors that influence the tax bill include the home's location, as different areas within the county may have different tax rates. For instance, homeowners in Laketown face the highest median tax bill at $2,944, while those in Randolph enjoy the lowest at $522. Additionally, the tax bill can vary significantly, with the 25th percentile paying around $907 and the 90th percentile reaching up to $3,779. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Rich County.
Average Rich County Tax Bill
$1,679
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Rich County, Utah
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Garden City | $338 | $909 | $1,679 | $2,493 | $3,605 |
| Laketown | $549 | $1,121 | $2,944 | $5,910 | $7,944 |
| Randolph | $203 | $315 | $522 | $842 | $1,042 |
| Woodruff | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell